Japan’s Coincheck to win regulatory nod for activity: resource

TOKYO (Reuters) – the japanese Coincheck Inc wins permission to operate as a licensed cryptocurrency exchange in the country of the financial regulator this month after improving governance in the aftermath of one of the largest digital money thefts earlier this year, a source told Reuters.

The source declined to be named because the decision hasn’t been officially announced.

Coincheck could not immediately be reached for a comment.

Coincheck in March repaid approximately 46 billion yen ($409.51 million) for investors that lost assets in a $530 million heist, one of the largest of the digital money worldwide.

Coincheck, which had been on a provisional basis, while the supervisors were considering the application for a license, has been ordered twice to improve its internal controls.

Monex, Japan’s largest online brokerage, in April completed 3.6 billion yen acquisition of Coincheck, in the most significant move yet by a major financial company in Japan, crypto-industry.

Reporting by Takahiko Wada; Editing by with the ipad has Himani

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